EDF - Stay on April 2024 fix or move to SVR?

littleteapot

I had been following this forum and energy news in general quite closely for some months, but due to an injury I've not been paying any attention for the last 2 weeks. So today I have started browsing again and also logged on to my EDF account to see what had changed there.

I believe the April 2024 fixed tarrif was below the EPG rate, hence it still shows the same unit rates that I originally signed up to. However I noticed that their SVR now has a very favourable E7 rate, and given that we are electricity only, and use around 75-80% on night rate, that this could work out about £40 per month cheaper than the fix I originally subscribed to.

However is my understanding of the EPG correct - it's a fixed unit price reduction until April 2024 - i.e. if the price cap changes in the 3-monthly cycles, then the unit rates of this tariff will also change? Or have I misunderstood the EPG?

My brain is a little slow at the moment due to injuries, surgery, medication etc! See screenshot of the SVR compared to my current fixed tariff:

[Deleted User]

The EPG has, based on what the government is saying at the moment, completely replaced the old caps and will not change for two years.

philipbin

Using a 75% night 25% day split I get the following:

It's interesting that using the Prepayment rates would make your annual total about £183 cheaper than using the Direct Debit rates

littleteapot

Thanks everyone for the responses. I just need to find out now whether EDF will waive the £150 exit fee. But even if not then it will still be quids-in after about 4 months.

Most interesting that the preypayment night rate is so much lower than direct debit!